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CFTC’s brokerage oversight plan gives auditors too much authority, industry self-regulators say

By Neil Roland ( February 20, 2013, 23:07 GMT | Insight) -- A federal proposal to tighten oversight of futures brokerages following the MF Global and Peregrine Financial Group scandals gives auditors and accounting standards too important a role in examinations, industry self-regulators said. Plans by the U.S. Commodity Futures Trading Commission to add accounting layers would be costly and unnecessary, they said.Washington – A federal proposal to tighten oversight of futures brokerages following the MF Global and Peregrine Financial Group scandals gives auditors and accounting standards too important a role in the examination process, industry self-regulators said....

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